Your parents will retire in 18 years. They currently have $250,000, and they think they will need

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Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don’t save any additional funds?

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Corporate Finance A Focused Approach

ISBN: 978-1439078082

4th Edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

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Question Posted: Sep 22, 2011 05:16 PM

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Your parents will retire in 18 years. They currently have $250,000, and they think they will need

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